Jeff owns a book company.It costs $10.00 to produce a new book and the company wants a 30% profit,so he charges $13.00 for the book.Jeff is using what type of pricing approach?

Question

Quizplus · Accepted Answer

Jeff is using the cost-plus pricing approach, where the selling price is determined by adding a specific markup to a product's unit cost. In this case, a 30% profit margin is added to the cost of producing the book ($10.00), resulting in a selling price of $13.00.

Jeff Owns a Book Company